• BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitization fund admitted to the exchange.

• Sonabhy raised more than CFA34 billion ($60.8 million), exceeding its initial target by 14%.

• Proceeds will finance hydrocarbon storage infrastructure to strengthen Burkina Faso’s energy security.

The Regional Stock Exchange (BRVM), which serves the eight member states of the West African Economic and Monetary Union (WAEMU), carried out the first listing of the bonds issued by the securitization fund “FCTC Sonabhy 8.1% 2025–2031” on January 22, 2026.

As a result, bonds linked to the fund are now listed and tradable on the regional financial market. The transaction makes FCTC Sonabhy the first securitization fund from Burkina Faso admitted to trading on the BRVM.

A Fundraising Above the Initial Target

The listing followed the fundraising of CFA34 billion ($60.8 million) by Burkina Faso’s National Hydrocarbons Company (Sonabhy) on the WAEMU regional financial market. Sonabhy announced the transaction on July 22, 2025, with an initial target of CFA30 billion.

Investor demand allowed Sonabhy to mobilize CFA34.344 billion, representing 114% of the targeted amount. This subscription level reflected market confidence in the credit standing of the Burkinabè state and in Sonabhy’s financial capacity.

The bonds offer an interest rate of 8.1% over a six-year maturity running from 2025 to 2031. Sonabhy will use the proceeds to finance national hydrocarbon storage infrastructure. These facilities will help ensure Burkina Faso’s energy security during shortages, import delays or international crises. In addition, the infrastructure will increase reserve capacity to absorb global price fluctuations and stabilize local supply.

A Strong Signal for Securitization in WAEMU

During the ceremony, the BRVM recalled that Burkina Faso has raised CFA2,198.24 billion on the regional financial market since it began issuing bonds. The admission of FCTC Sonabhy also reflects the growing role of securitization in the monetary union.

To date, the regional market lists 10 securitization fund bond issues, with a total capitalization of CFA295 billion. This momentum strengthens the diversification of financial instruments available to governments and companies across UEMOA.

This article was initially published in French by Chamberline Moko

Adapted in English by Ange Jason Quenum